Acadian Asset Management LLC Decreases Holdings in Steel Dynamics, Inc. (NASDAQ:STLD)

Acadian Asset Management LLC lowered its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 25.3% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 849,751 shares of the basic materials company’s stock after selling 287,479 shares during the period. Acadian Asset Management LLC’s holdings in Steel Dynamics were worth $110,025,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Atomi Financial Group Inc. boosted its holdings in Steel Dynamics by 3.1% in the 1st quarter. Atomi Financial Group Inc. now owns 2,667 shares of the basic materials company’s stock worth $395,000 after buying an additional 79 shares during the last quarter. Csenge Advisory Group boosted its stake in shares of Steel Dynamics by 2.8% in the second quarter. Csenge Advisory Group now owns 2,939 shares of the basic materials company’s stock worth $381,000 after acquiring an additional 81 shares during the last quarter. Greenfield Savings Bank raised its stake in Steel Dynamics by 0.7% in the 1st quarter. Greenfield Savings Bank now owns 11,676 shares of the basic materials company’s stock valued at $1,731,000 after purchasing an additional 85 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in Steel Dynamics by 9.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,068 shares of the basic materials company’s stock valued at $126,000 after purchasing an additional 88 shares during the last quarter. Finally, Global Retirement Partners LLC lifted its holdings in Steel Dynamics by 19.2% in the 1st quarter. Global Retirement Partners LLC now owns 570 shares of the basic materials company’s stock valued at $84,000 after purchasing an additional 92 shares in the last quarter. Hedge funds and other institutional investors own 82.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. upped their target price on shares of Steel Dynamics from $118.00 to $120.00 and gave the stock an “underweight” rating in a report on Tuesday, July 16th. BMO Capital Markets dropped their price objective on shares of Steel Dynamics from $140.00 to $135.00 and set a “market perform” rating for the company in a research note on Tuesday, June 18th. Bank of America decreased their target price on shares of Steel Dynamics from $150.00 to $145.00 and set a “neutral” rating on the stock in a research note on Wednesday, June 26th. Morgan Stanley upped their price target on Steel Dynamics from $134.00 to $138.00 and gave the company an “equal weight” rating in a research report on Thursday, August 15th. Finally, Jefferies Financial Group assumed coverage on Steel Dynamics in a research report on Monday, May 20th. They set a “hold” rating and a $150.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Steel Dynamics currently has a consensus rating of “Hold” and an average price target of $141.86.

Steel Dynamics Trading Down 0.3 %

Shares of Steel Dynamics stock opened at $111.00 on Friday. The stock has a 50 day moving average of $122.90 and a 200 day moving average of $130.17. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.19 and a current ratio of 2.35. The firm has a market capitalization of $17.44 billion, a price-to-earnings ratio of 7.62 and a beta of 1.32. Steel Dynamics, Inc. has a fifty-two week low of $95.53 and a fifty-two week high of $151.34.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings data on Wednesday, July 17th. The basic materials company reported $2.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.67 by $0.05. Steel Dynamics had a return on equity of 22.89% and a net margin of 11.10%. The firm had revenue of $4.63 billion during the quarter, compared to the consensus estimate of $4.43 billion. During the same period last year, the company earned $4.81 EPS. The company’s quarterly revenue was down 8.8% on a year-over-year basis. As a group, research analysts predict that Steel Dynamics, Inc. will post 10.74 earnings per share for the current year.

Steel Dynamics Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Monday, September 30th will be given a dividend of $0.46 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.66%. Steel Dynamics’s payout ratio is currently 12.64%.

Steel Dynamics Company Profile

Steel Dynamics, Inc, together with its subsidiaries, operates as a steel producer and metal recycler in the United States. The Steel Operations segment offers hot rolled, cold rolled, and coated steel products; parallel flange beams and channel sections, flat bars, large unequal leg angles, and reinforcing steel bars, as well as standard strength carbon, intermediate alloy hardness, and premium grade rail products; engineered special-bar-quality products, merchant-bar-quality products, and other engineered round steel bars; channels, angles, flats, merchant rounds, and reinforcing steel bars; and specialty shapes and light structural steel products.